Posted on 04/21/2020 7:20:49 AM PDT by tatown
President Donald Trump on Tuesday ordered key figures in his administration to put together a plan to get funding to the struggling U.S. oil and gas industries as a historic selloff in crude continued.
“I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!” Trump tweeted Tuesday morning, as West Texas Intermediate crude futures for May delivery again traded in negative territory.
(Excerpt) Read more at cnbc.com ...
The FedGov can literally print money.
Agree. Open up the businesses. You won’t need government spigot. Come on...Make America Work Again.
I guarantee you would like the results even less than printing/spending money to keep energy viable.
How about tariff at the oil being dumped specifically to cause damage to the USA domestic industry?
I totally agree with reopening but think in practical application, people are going to be reluctant to rush back into stores, etc. I read somewhere 60% of people plan to “shelter in place” even after the quarantines are lifted. I wish that was not the case.
I’m sitting in the heart of the O&G industry here in Houston and work for a controls company so yeah I get it.
Global supply is a huge problem but we are limited in what we can do about it in the near term. Demand, on the other hand, would be helped greatly by ending the lockdown. Adding a few millions bbls/day back onto the demand side would relieve a bit of pressure.
We have to drive to Tyler weekly to remodel our home so we of course love this price drop. It would be great if all that oil/gas could somehow benefit the flailing airline industry, instead of a straight cash deal for employees. Not sure what airplanes need for refined fuel either.
The stores I go to seem to be as busy as ever.
I was thinking the same thing. Please let me know if you get an answer.
Trump has the power to do it.
The will, who knows?
Been doing my part by getting out on the road, but I'm still only using gas at 50% or maybe even a bit less, than my usual consumption.
Trump's plan to top off the reserves will only make a small dent in the current glut...if the Dems don't try to stop that too.
If the oil and gas industry can’t pay its own way, why should I bail it out?
No subsidies, no tariffs: Free markets!
Oil plunging to new lows, but gas prices here in sw Florida have remained stagnant for 3 or 4 weeks.
The back end of this mess is equally as scary. With such as huge amount of production shut in, prices could get crazy high before the demand/supply curve gets balanced.
I’ve been trying my best as well. I’m out literally every day but don’t have many places to go! lol
Give it about a week or two.
“How about tariff at the oil being dumped specifically to cause damage to the USA domestic industry?”
the USA has been a net exporter of energy for a number of years, domestic consumption is way down right now, storage is nearly filled up, and what storage remains is owned by the Feds, so it’s not physically possible to “dump” oil into the USA right now ....
Set tariffs, cut production, and keep prices stable from this point forward, as current supplies are used.
“Set tariffs, cut production, and keep prices stable from this point forward”
President Trump has noted numerous times in the last few days that American producers don’t need government control to know when to cut production because they are market driven and have already inherently cut production ... also, there’s no need to set import tariffs because the USA is a net EXPORTER of fossil fuel energy products ... finally, the market determines the prices of fossil fuel energy products and does not need the interference of government command and control for that purpose, a situation that is fully understood by conservatives who those who believe in markets determining prices ...
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